Thursday 22 March 2018

Covetousness: No limits to amassing of earthly property by tycoons


IT'S the immoderate desire for earthly goods as well as situations such as power. And while it's a sin of excess, the object of the individual's desire need not be evil. The real issue is the manner in which one regards the object of one's desire.

Could the definition of any sin come closer to describing the ungodly affliction that gripped so many of Ireland's property developers during the bubble years?

Who, for example, would ever have thought that a contaminated piece of waste ground next to the docks in Dublin's Ringsend could be worth €412m? Well, Bernard McNamara did when he spearheaded a stampede of Davy Stockbrokers' wealthiest private clients in 2006 to buy it with the promise of an eye-watering return of 17 per cent on their investment.

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